The development was followed by a run of bets on Pardew to depart, prompting the online bookmaker to cut their odds from 20/1 to 7/4, replacing Swansea City's Michael Laudrup at the head of the market.
The Magpies endured a difficult campaign last season, narrowly avoiding relegation as they finished fifth from bottom in the Premier League.
Sky Bet Football Trader Chris Spicer said: "Our punters clearly to seem to see Kinnear's return as undermining the role of Pardew, with some significant bets on him being the next boss to go.
"Alan Pardew's reaction will be interesting and, even if nothing changes in the short term, it certainly raises questions over Mike Ashley's confidence in his manager."
Source: Newcastle United Mad